Battery energy storage systems (BESS) have the potential to play a major role in smart grids. The economic viability of the concept of deploying BESSs for balancing power demand and supply, however, is still subject to controversial discussion. This work presents a modular framework for investigating and optimizing the profitability of grid-integrated BESSs. The framework is deployed to assess the benefits of electric vehicle smart charging and to investigate the financial viability of energy arbitrage in various electricity markets.
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Battery energy storage systems (BESS) have the potential to play a major role in smart grids. The economic viability of the concept of deploying BESSs for balancing power demand and supply, however, is still subject to controversial discussion. This work presents a modular framework for investigating and optimizing the profitability of grid-integrated BESSs. The framework is deployed to assess the benefits of electric vehicle smart charging and to investigate the financial viability of energy ar...
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